Examlex
This type of administration occurs orally.
Personally Liable
Being directly responsible for a debt or obligation, such that one's personal assets can be pursued by creditors.
Obligations
Duties or commitments one party has towards another under the terms of a contract, law, or moral duty.
Statute Of Frauds
A legal principle requiring certain contracts to be in writing and signed in order to be enforceable.
Partnership Agreement
A formal written agreement among business partners detailing the management, decision-making, and distribution of profits or losses.
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